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Search Results 0 to 49 of about 72 (some duplicates have been removed)
. and the white house warned republicans against using the debt limit as leverage to force agreement. >> asking for... that a political price be paid in order for congress to do its job, to ensure that the united states of america pays its bills and does not default for the first time in its history, is deeply irresponsible. >> reporter: at least talks are going on. the speaker and the president spoke by phone for almost half an hour last night. but a first negotiating round between treasury secretary timothy geithner and congressional leaders did nothing to improve the tone on capitol hill. democrats said the ball was in the speaker's court. >> we're saying, extend the tax cuts for the middle class as part of that. we know if we do nothing, the top rates go up. we're waiting for the republicans to come forward with something. that's our proposal, period. >> reporter: no one in washington ever thought negotiations to get past the fiscal cliff would be easy. now, more and more are talking about a rerun of what happened with the tarp bailout bill. first, congress may have to deadlock and go over
. >> tom: i'm tom hudson. massive spending cuts and tax hikes are set to hit the u.s. economy on january first. by most estimates if we go over the cliff, the u.s. onomy will plunge into recession. >> susie: we look at the impact of the coming cliff and whether congress and the white house can strike a deal. >> tom: that and more tonight on n.b.r.! it was the chairman of the federal reserve ben bernanke who first called it a fiscal cliff. he described the coming automatic cuts in government spending and increases in taxes as, quote, "a massive fiscal cliff," end quote. here's what he was describing: on january 1, 2013, tax breaks worth $416 billion will expire. spending on things like defense, medicare payments to doctors will be slashed by $65 billion. add it all up and you are talking about cutting roughly half a trillion dollars from the federal budget. the congressional budget office and others warn going over the cliff will send the economy into a recession in the first half of next year. it was congress and the white house that set the deadline in hopes of forcing each other to cut
and led to the worst oil spill in u.s. history. inits guilty ple b.p. saidt deeply regrets the loss of life and almost five million barrels of oil that into the gulf. darren gersh reports. >> reporter: justice department officials hope today's settlement and criminal pleas will bring justice to the families of the men who died when the "deepwater horizon" exploded. >> perhaps the greatest tragedy is that the deaths of the 11 men on board the "deepwater horizon" could have been avoided. the explosion of the rig was a disaster that resulted from b.p.'s culture of privileging profit over prudence. >> reporter: b.p. has agreed to plead guilty to 11 counts of felony manslaughter and one felony count of lying to congress. in addition, two b.p. supervisors on the deepwater rig have been charged with 23 counts of manslaughter. another b.p. executive was charged with lying to congress. b.p. will also pay a record- setting $4 billion in criminal fines and penalties. thrown in with the criminal charges is a civil settlement with the securities and exchange commission. b.p. will pay more than h
business. >> reporter: it used to be consumers would buy private label products to clean their bathrooms or wash their clothes. lately, however, they're eating them, too. from sodas to peanut butter, private label brands are shaking off the yuck! stigma and attracting value-conscious customers. and it's the popularity of private label food that's behind the tasty conagra-ralcorp deal. >> private label, otherwise known as store brands, is gaining traction with retailers and shoppers. in fact, store brands have been growing faster than branded food for some time, and we expect that to continue. >> reporter: it might be hard to believe, but store brands now account for about a fifth of all packaged foods sold in the u.s., and at 70 $billion, we're talking big business. conagra is known for name brands like pam, slim jim, and reddi whip, and it also makes some private label goods. ralcorp is the top manufacturer of growing store brand categories such as cereal and pasta, and it supplies companies like walmart and mcdonald's. together, conagra and ralcorp could become a private label powerhou
evening i susie gharib. u.s. stocks are trading again, after hurricane sandy forces an historic two-day shutdown. >> gom: llll street gets back to business, as damage and recovery estimates start to climb, plus,e what it takes to restore power to millions in the northeast. >> susie: and with stocks open for trading, no surpri, home depot was the dow's standout., >> tom: lots ahead, that and more tonight on "n.b.r."! >> susie: an historic day on here on wall street, after the storm of the century knocked down the financial district. us stoto markets resumedtsed operations today after two days in the dark, stocks were little changed: both the dow and the nasdaq fell 10 points, but the s&p 500 gained a fraction. trading here at the new york stock exchange opened without a hitch. th new york stock exchange opened right on time. and as new york's mayor bloomberg rang the opening bell this morning, traders were happy to be back to work. it looked like a normal day, with the buzz of activity, traders milling about. it was anything but normal no one knows that better than larry leibowitz, t
folks are looking for-- and i think all of us agree on this-- is action. >> reporter: speaker pelosi suggested the leaders agree on milestones that will bolster the economy. >> we should have a goal in terms of how much deficit reduction. we should have a deadline before christmas. we should show some milestones of success so that confidence can build as we reach our solution. >> reporter: over the last week markets had grown increasingly pessimistic about avoiding the fiscal cliff. today's tone provided some relief, but it's clear major hurdles remain. >> how much do rates have to go up? what can republicans accept on that and what can the democrats accept in terms of structural reform of entitlements? i think those are the two big sticking points and those are going to remain the sticking points. and if you can figure out what's going to happen there, you can figure out whether there is going to be a deal and when that deal might happen. >> serious negotiating begins after thanksgiving. susie. >> susie: you know, darren, you talked about the mood of cooperation, and listening to th
a short- run compromise that will get us past the fiscal cliff. >> reporter: the president made his suggestion for a short-term deal. he urged congress to extend tax breaks for the middle class while they work out a bigger plan for a grand bargain. sylvia hall, "n.b.r.," washington. >> tom: while investors remain focused on the fiscal cliff, a further jump in consumer sentiment helped stocks close in the green today. the university of michigan reuters consumer sentiment index this month rose to 84.9. that's its highest level since july of 2007. the dow added four points, the nasdaq was up nine, the s&p 500 added two points. for the week overall, the dow fell 2.1%. the nasdaq dropped 2.6%. and the s&p 500 is 2.4% lower tonight compared to a week ago. >> reporter: while president obama and house speaker boehner both say they're open to new ideas, wall streeters remain cautious about the fiscal cliff. meridien equity partners' joe greco says the market doesn't expect it to be resolved this year. >> i think we're going to see a push pull back and forth and we're probably not going to se
. tom will be along later in the program. congress officially gets back to preventing the u.s. economy from falling off the fiscal cliff. while washington struggles on a fiscal cliff deal, what should you do about your portfolio? jeff applegate has some answers. he's chief investment officer at morgan stanley smith barney. and home depot hammers home strong gains and lays the foundation for a strong quarter ahead. that and more tonight on "n.b.r." it was another day of cliff- watching here on wall street today. investors and traders are waiting to hear what happens at an important white house meeting on friday between president obama and congressional leaders. they will be talking about ways to solve the so-called "fiscal cliff" dilemma. investors appear cautious about making any big moves until they know whether the cliff will trigger increases in capital gains and dividend taxes. the dow fell almost 59 points, the nasdaq lost 20, and the s&p was down five. meanwhile, in washington, congress returned to work for the first time since september. lawmakers face a long "to-do list," and g
for business leaders. the c.e.o. of caesars entertainment, tells us it'll be "very damaging" for his company. >> tom: that and more tonight on "n.b.r."! wall street greeted the election results with a big sell-off in stocks. investors dumped shares of almost every type, giving the s&p 500 it's worst day since june. beyond the u.s. elections, europe also brought fresh worries for investors with concerns in greece, and germany. here's how the numbers stacked up on wall street. the dow lost 312 points, at it's worst point of the day, the blue chip index was down 369 points. the nasdaq tumbled nearly 75 points and the s&p 500 off 33. suzanne pratt takes a look at where the market goes from here. >> reporter: let's be candid. this is not the election outcome that wall street wanted to see. after all many investors believe president obama's tax policies will hurt corporate profits. on top of that there's the likelihood of more regulation in the president's second term. those concerns were evident in selling today of energy, banking and healthcare stocks. a quick look at the price board at the new
with lawmakers today joins us. he is david cote, c.e.o. of honeywell. david, thank you so much for joining us. we really appreciate it. did you get the sense from house speaker boehner, he is ready to make a deal? >> i would say there is a recognition on all sides about the significance and importance of a deal. it is a real question about gettin both sides en the room to actually hammer it out and get something done because we don't have a lot of time left. >> susie: president obama said he would like to have a deal by christmas. from what you heard today, how realistic is that? >> if they want to, they can get this done in a couple of days. it is just a matter of kind of working out some of these important details. but it's a matter, i think, they just need to get together and get started. i think both recognize the need for a market-credible $4 trillion deal, and it has got to comprise both tax increases that are believable and that will happen, and entitlement reform that is believable and will happen. both of those things will have to be an important rt of this. >> susie: did speaker boehner
will lead daily operations. >> susie: that and more tonight on nbr! >> tom: u.s. markets turned their attention back to the economy today; investors and traders liked what they heard. americans are feeling the most optimistic they have been in nearly five years about their finances and the outlook for the economy. the conference board's confidence index jumped to a reading of 72.2 last month. driving that gain, an improving job market. new ai for unemployment insurance fell by 9,000 in the past week to 363,000, showing modest improvement in the jobs picture. we'll have more on jobs in a moment. as for stocks, the dow gained 136 points, the nasdaq was up 42, the s&p adding 15. >> susie: but economists say that encouraging report on jobless claims and the confidence survey were collected before hurricane sandy. meanwhile, the effects of the monster storm are paralyzing much of new jersey and new york city here's an update: fr and a ha mlion pple are still without power, and it could take another ten days before power is restored. limited flights have resumed at all of the airports
the election. u.s. businesses added 171,000 jobs in october across many industries. four days after sandy, the gas crunch in jersey, access to cash in the northeast and controversy nixes sunday's running of the new york city marathon. that and more tonight on "n.b.r.!" we begin with jobs. employers beefed up their payrolls last month, adding more jobs than expected as more americans counted themselves among the labor force. the official labor department count shows 171,000 jobs were created last month. that's much stronger than the 125,000 analysts were looking for. and the government revised its september new job count up to 148,000. thanks to more people looking for work, the unemployment rate rose slightly to 7.9%. darren gersh has the story from washington d.c. >> reporter: the october employment report makes it clear a jobs recovery is solidly underway. >> i think the k message tre is that employment growth has been taken up a notch. over the last three months we've added over 170,000 jobs on average. that's a little bit better than what we've been seeing. that is enough over the lon
Search Results 0 to 49 of about 72 (some duplicates have been removed)

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